AOL and Yahoo merge to form a New Entity

AOL and Yahoo will  merge to form a new entity called Oath. AOL CEO Tim Armstrong made the name of the new entity via his twitter account. Verizon announced the acquisition of Yahoo for $4.48 billion in February 2017 after the purchase price was revised down by $350 million. The revised purchase price followed the disclosure of the…

Facebook Launch New Tool to combat Revenge Porn.

A new tool has been developed for use on Facebook, Messenger and Instagram to combat “revenge porn”. Mark Zuckerberg during the announcement stated that “revenge porn” is wrong and hurtful. He said the new tool  will help to prevent “revenge porn” from being shared on Facebook, Messenger and Instagram. He further stated that “Revenge porn is…

Nigeria’s FinTech Startup raises $1.25 million

Lidya, a Nigerian FinTech startup has successfully raised the sum of $1.25 million dollars in seed funding. Accion Venture Lab led the funding round while Newid Capital and several angel investors also participated. According to the press release, Lidya currently operates in Nigeria where 20,000 businesses have registered for the service. Lidya’s new round of funding will enable the company to…

Lagos Startup ecosystem valued at US$2 billion

Startup Genome in its 2017 Global Startup Ecosystem Report (the “Report”) stated that the Lagos startup ecosystem is valued at US$2 billion ahead of Johannesburg and Capetown’s startup ecosystem  valued at US$1.36 billion and US$172 million respectively. The report thus means that Lagos has the most valuable startup ecosystem in Africa. The Report as it relates to Lagos has…

Nigerian App, named the most innovative Mobile App at the 2017 Global Mobile Awards

At the recently concluded Mobile World Congress held February 27 – March 2, 2017 in Barcelona, Slide Airtime was named winner of the Most Innovative Mobile App. Sliide Airtime was  shortlisted in the Most Innovative Mobile App category of the Global Mobile Awards with Telefónica Investigación y Desarrollo for Drivies;  Reliance Jio Infocomm Limited for Jio4GVoice; Drupe…

CAC: Online Incorporation of Companies now possible in Nigeria

The Corporate Affairs Commission (“CAC”) recently issued a notice in which it informed the public that incorporation documents can now be uploaded on its website. The notice further states that the CAC would approve the application and print incorporation certificate based on the uploaded documents. At the point of collecting the hardcopy of the incorporation…